Some recent news that's sure to get as much air time as facebook before their IPO.

Today:
J.P. Morgan Chase (JPM) revealed in a regulatory filing Wednesday it is the subject of a criminal and civil investigation related to mortgage-backed securities.

Freddie Mac, the government-owned mortgage finance company, on Wednesday said it is considering legal action against Richmond, California, if the city uses eminent domain to seize mortgages of local residents who owe more than their properties are worth in a bid to keep them in their homes.

Yesterday:
The Justice Department is seeking $1 billion from Bank of America, alleging the bank committed fraud by selling defective mortgages from a program it says was known within the bank as "the Hustle."

In another civil enforcement action Tuesday stemming from mortgage-bond deals, UBS AG agreed to pay $49.8 million to settle SEC allegations related to a collateralized debt obligation it developed in 2007. It neither admitted nor denied the regulator's findings.

7/30/2013:
J.P. Morgan Chase (JPM) agreed to shell out a record $410 million in penalties and repayments to ratepayers on Tuesday, settling allegations the largest U.S. bank manipulated electricity markets in California

Billionaire hedge-fund manager Steven A. Cohen faces an attempt by U.S. regulators to force him out of business for failing to supervise two employees charged with insider trading.

The Securities and Exchange Commission yesterday presented new details that it said showed Cohen received “highly suspicious” information that should have caused any reasonable hedge-fund manager to investigate the basis for trades made by Mathew Martoma and Michael Steinberg. Cohen, 57, ignored red flags and allowed illegal trades that earned profits and avoided losses of more than $275 million, the SEC said in an administrative proceeding.

Cohen, whose net worth is estimated at about $9 billion by the Bloomberg Billionaires Index, has returned 25 percent a year in his funds since founding his firm in 1992 -- after taking half of the profits in fees -- a record unsurpassed by any other equity hedge-fund manager.

Cohen like Corzine committed securities fraud and insider trading. What was that about perception. Huh?

California’s top law-enforcement official accused JPMorgan Chase on Thursday of flooding the state’s courts with questionable lawsuits to collect a glut of overdue credit-card debt.

On Thursday, the California attorney general, Kamala D. Harris, sued the nation’s largest bank in California Superior Court over claims that the lender “committed debt collection abuses against tens of thousands of California consumers,” according to court records.

JPMorgan Chase, Ms. Harris says, deluged the courts with dubious lawsuits to collect soured credit-card debt. For roughly three years, between January 2008 and April 2011, Chase filed thousands of lawsuits each month, the lawsuit says. On a single day, for example, JPMorgan filed 469 lawsuits, court records show.

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